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AFT Corporation taps into Chinese renewable energy sector


Renewable energy firm AFT Corporation (ASX: AFT) has secured a joint venture deal with Guangzhou Guangri Management Co. that will provide AFT with access to the Chinese renewable energy market.

The two companies will establish a Guangzhou-based company focusing on the sale and marketing of solar photovoltaic systems, LED and other renewable energy products and systems.

The JV company, which will be named Guangzhou GA Renewable Energy Co., will also provide hire purchase agreements and power purchase agreements to solar power projects in commercial and public utility sectors.

Additionally, it will provide technical services, leasing and system solutions for the Chinese and global markets.

Under the agreement, AFT will own a 49% share of the joint venture company.

The company had around A$2.2 million in cash at the end of December 2012.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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